Wheeler REIT cuts note conversion price to USD 0.4 per share after preferred stock redemptions - WHLR News | RalliesWheeler REIT cuts note conversion price to USD 0.4 per share after preferred stock redemptions
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WHLR• Conversion price reset after preferred redemptions
- Wheeler Real Estate Investment Trust reset the conversion price on its 7.00% Subordinated Convertible Notes due 2031 to about $0.4 a share.
- The adjustment followed August 2026 Series D preferred redemptions, with the lowest conversion price about $0.73, triggering a 45% discount.
- The new terms imply about 62.52 common shares for each $25 of note principal converted.
- Holders redeemed 7,100 Series D preferred shares, settled in 403,236 common shares.
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